China Sunergy kicks off building of Shanghai base

BEIJING, Dec.1 (Xinhua) ?? China's solar cell producer China Sunergy Co., Ltd. (CSUN.Nasdaq) held a foundation-laying ceremony for its research, development and production base in Shanghai on November 28..

Sited in Songjiang Industrial Park, the Shanghai base is designed to become a center for R&D, production and supply of crystalline silicon solar cells in addition with current base in Nanjing, capital city of the neighboring Jiangsu Province.

China Sunergy bought 150 acres of land in yearend 2007 and plans to build a plant with estimated production capacity of 400MW.

Earlier, China Sunergy reported US$11.1 million of gross profit and 9.3 percent of gross profit margin in the third quarter of 2008, compared with US$11.6 million and 10.4 percent in the second quarter.

China Sunergy produced 35.7 MW of solar cells in Q3, increasing 8.8 percent quarter on quarter and its shipment of solar power products amounted to 34.1 MW, decreasing 2.6 percent from the previous quarter.